Market Insights:
Market Research Future Reports has published its new research study on the global cement market which states that it will proliferate at a CAGR of 8% approximately by the year 2022.
The revival of the construction industry has undoubtedly motivated the global cement market to expand rapidly over the course of time. As a result of recovery in the construction industry, it resulted in a significant surge in the commercial, residential, and infrastructural projects which include offices, houses, complexes, dams, bridges and more. These structures need utmost usage of cement, which is why the market is expected to expand more in the future.
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Cement is referred to as a critical binding substance that is used in building or construction material to hold bricks robustly. Cement is a prime part of the primary mixtures for construction and is also referred to as one of the most used material owing to widespread use in construction activities.
Competitive Analysis:
- Lafarge
- Anhui Conch Cement Company Ltd.
- Jidong Development Group Co. Ltd.
- China National Building Material Company Ltd.
- Mitsubishi Materials Corporation
- Shanshui Cement Group Ltd.
- UltraTech Cement Limited
- CEMEX S.A.B. de C.V.
- HeidelbergCement AG
- Holcim Ltd.
Global Cement Market: Drivers & Trends:
The demand for residential properties is mounting owing to increasing urbanization and rising household income. In addition, improving economic conditions is also stimulating the demand for retail and commercial spaces, which are thus providing a fillip to the cement market to expand. Therefore, wide applications of cement for infrastructural activities are mainly contributing to the growth of the cement industry across the globe.
As the population is increasing, favorable housing projects are coming up by the time. The emergence of smart cities is expected to trigger the demand for cement for residential as well as commercial applications. Moreover, some supportive regulations and favorable government policies are also actively dwelling into action and supporting the market of cement in substantial ways.
Furthermore, profound investment in research & development for cement preparations is becoming an essential factor for the cement market to gain its valuation. Other growth-inducing factors for the cement market to thrive, thus include industrialization, rising population and increasing purchasing power of the consumers.
Global Cement Market Segmentation:
In the reports of MRFR, the global Cement Market has been segmented based on type, application, and region.
By the segmentation of type, this market includes rapid hardening cement, low heat cement, high alumina cement, white cement, colored cement, hydrographic cement and others.
By the segmentation of application, this market includes construction and infrastructure.
Regional Outlook :
In the reports of MRFR, the global cement market has been regionally bifurcated amongst North America, Europe, Asia Pacific and rest of the world. Cement market has mainly relied on construction and building activities, hence, in this Asia Pacific enjoys the foremost position in the global cement market in terms of value. Obtaining higher value mainly attributes to the construction and development of infrastructure in countries such as India, China, Japan and more.
On the other hand, government initiatives are also supported such as the development of smart cities. These are providing a significant boost to the construction sector, which in turn, is proliferating the global cement market positively.
Whereas, North America and Europe are also observing a growing number of limestone discoveries in the east and the ease of transport system have led to the fast growth of the cement industry.
Industry News
April 30, 2019: The Cement sector saw the most robust rebound in March 2019, growing 15.7% compared with 8% in February 2019. While, the cement sector also grew 13.3% over the full year 2018-19, up from the 6.3% growth it recorded in the previous year.
April 25, 2019: UltraTech cement jumps 5% post Q4 results. Shares of UltraTech Cement jumped 5 percent, a day after the company’s standalone profit, which was more than doubled to Rs 1,017 crore in March quarter against Rs 488 crore in the year-ago period.
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